Groupe PSA

Press Release

Regulatory News:

Carlos Tavares, Chairman of Groupe PSA (Paris:UG) Managing Board, and Opel CEO Michael Lohscheller had today fruitful discussions with Peter Altmaier, German Federal Minister of Economic Affairs and Energy and Hubertus Heil, German Federal Minister of Labor and Social Affairs.

The dialogue was open and constructive expressing shared desire to work on a sustainable future for Opel, which is supported by the execution of the turnaround PACE! plan.

In light of ongoing speculation, we confirm that:

• Opel, with the support of PSA, is currently respecting all the existing Manufacturing tariff agreements. Any other information would be pure speculation.
• There is a plan to invest in each German facility, once performance conditions are met. This will ensure the sustainability of Opel, as employees can expect from their management.
• Performance agreements have already been signed in UK, Spain, Poland, Austria and Hungary. We trust that, through the co-determination process, an agreement can be found with our German union partners in the best interest of our employees.

About Groupe PSA

Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.

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